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Ruling Goes Regeneron’s Way

Oct. 9, 2017 2:28 p.m. ET

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Gabelli & Co.

We reiterate a Buy rating on Regeneron Pharmaceuticals with an estimated 2018 private market value of $554 a share.

We increase our 2018 earnings before interest, taxes, depreciation and amortization (Ebitda) multiple from 18.5 times to 19.0 times to reflect Praluent’s injunction removal. Near-term catalysts include readout...

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